Media Release

New study reveals would-be homebuyers most deterred by proximity to crime (75%) and noise (68%)

Buyers warned not to write-off properties too soon

finder.com.au top tips for sellers

15 August, 2016, Sydney, Australia – New figures have revealed the top property deal-breakers that prevent buyers from buying real estate, with Australians having little tolerance for crime hotspots, according to finder.com.au, Australia’s most visited comparison website.

The survey of 2,033 Australians found 75% of people would not buy a home if it was in an area with an above-average crime rate.

Two in three (68%) of Australians would be put off if a house was too close to a noisy pub, while 64% consider a home in an industrial suburb a deterrent.

The survey revealed other major deal-breakers such as public housing in the neighbourhood (36%), an area with an above average unemployment rate (33%) and property being located within 2km of a brothel (33%).

Being a deceased estate was one feature that 12% of buyers could not overlook, while 7% of prospective buyers would be turned off a property if it was located within two kilometres of a fast food chain. Similarly, 7% of people said they’d be discouraged by a lack of suburb ‘trendiness’.

House number 13 was a deal breaker for some superstitious house hunters, with one in 20 (5%), avoiding houses with this number.

“There’s a difference between true deal breakers and factors that house hunters worry unnecessarily about. Don’t be too quick to judge as your preconceived ideas could see you miss out on a hidden gem.

“Interestingly, the third biggest turn-off was a home in an industrial area. But keep in mind that gentrification can positively impact lifestyle and property values as the area goes through a process of urban renewal.

“The areas buyers are looking to purchase in will not be the same area in 10 years from now, it can evolve dramatically over time”, she says.

Ms Hassan says while some things may be out of your control, sellers should take measures to address potential concerns and boost the appeal of your property before putting their property on the market.

“For example, if your home is in a high crime area and you don’t have an alarm, get buyers on side by installing a security system. If your home is blighted by noise pollution, opt for double glazed windows.

“Be open about the pitfalls, but be sure to emphasise the area’s or home’s unique perks,” she says.

Suburb / property characteristic

ACT

NSW

QLD

SA

TAS

VIC

WA

If it had the street number 13

1%

5%

6%

5%

2%

4%

8%

If you knew the property was a deceased estate

10%

12%

11%

10%

8%

15%

15%

If the area had an above average crime rate

76%

73%

78%

76%

74%

71%

81%

The previous owners had a pet

1%

4%

5%

4%

5%

5%

5%

If there were housing commission residents in the neighbourhood

19%

39%

36%

27%

29%

42%

42%

If the property was within close proximity (within 2km) to a high-end supermarket, such as Woolworths, Coles or Harris Farm

0%

4%

5%

4%

5%

6%

6%

Close to a noisy pub/bar

69%

69%

69%

65%

64%

65%

74%

If the property was within close proximity (within 2km) to a fast food chain

4%

7%

7%

6%

5%

10%

8%

Located in an industrial area

60%

62%

65%

63%

50%

67%

69%

If the area had an above average unemployment rate

36%

34%

40%

31%

23%

27%

38%

A lack of suburb "trendiness" (e.g cafe culture)

4%

7%

6%

5%

4%

11%

8%

If the property was within close proximity (within 2km) to a brothel

31%

34%

31%

27%

26%

33%

42%

None of the above

14%

10%

11%

11%

11%

10%

8%

Source: finder.com.au survey of 2,033 Australians conducted in June 2016.

Gender breakdown

Women (79%) were more likely than men (70%) to be deterred by a house in a high crime area

Women (39%) were almost twice as likely as men (22%) to be put off by a house within close proximity to a brothel

Men (6%) had a bigger gripe than women (4%) with a property if the previous owner had a pet

Generation break down

More than one in five Gen Y (21%) were turned off a property if it was a deceased estate compared to 14% of Gen X and only 6% of baby boomers

Baby boomers (78%) had the biggest problem with a house for sale being in a crime hotspot, compared to 76% of Gen X and 69% of Gen Y.

Over one third of Generation X (35%) would not buy a property within 2km of a brothel

State by state

More than one in 10 Victorians (11%) would consider a lack of suburb ‘trendiness’ (e.g. cafe culture) a major turn-off.

Nearly three quarters (74%) of West Australians couldn’t handle living too close to a noisy pub

The survey found West Australians are also the most superstitious with 8% put-off by a home with the street number 13.

NSW, SA (4%) and ACT (1%) house hunters were least bothered if the previous owner had a pet living in the home

finder.com.au top tips for sellers

Time it right: Spring is traditionally a popular time to put property on the market with more buyers around, and with just under four weeks left of winter, now is a good time to think about listing if you want to sell.

Price it right: If you are putting too high a price on your property you risk scaring everyone off and the listing going ‘stale’. Talk to multiple estate agents about their valuation and choose a realistic price range . Make sure to research sold prices of comparable properties in your local area to get a feel for the price.

First impressions count: Some buyers make their decision before they have even stepped through the front door so do what you can to boost your home’s street appeal. Small upgrades or renovations can add value to your home while small low-cost tasks such as trimming trees, clearing away clutter, pressure cleaning and a fresh coat of paint can also go a long way.

Avoid definite turn-offs: While there’s not much you can do about the local crime rate, there are some steps you can take to make sure you’re not deterring potential buyers. Make sure the property is free from any pet hair or smells, add soundproof your property correctly if nearby noise is a problem.

Be upfront: Don’t shy away from issues that could lower the selling price. Instruct your agent to be open with buyers about any potential problems they have cited – such as if the property is a deceased estate. If these concerns are talked about early on, it’s less likely a transaction will fall through at the 11th hour.

###

For further information

The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com.au's review pages for the current correct values.

About us

More than 3 million Australians turn to finder.com.au every month to save money, time and make important life choices. We compare virtually everything from credit cards, phone plans, health insurance, travel deals and much more.

Our free service is 100% independently-owned by two Australians: Fred Schebesta and Frank Restuccia. Since launching in 2006, we’ve helped our users make more than 17 million decisions.

We continue to expand and launch around the globe, and now operate in the United States and United Kingdom. For further information visit www.finder.com.au.

Disclaimer - Hive Empire Pty Ltd (trading as finder.com.au, ABN: 18 118 785 121) provides factual information, general advice and services on financial products as a Corporate Authorised Representative (432664) of Advice Evolution Pty Ltd AFSL 342880. Please refer to our FSG - Financial Products. We also provide general advice on credit products under our own Credit Licence ACL 385509. Please refer to our Credit Guide for more information. We can also provide you with general advice and factual information on about a range of other products, services and providers. We are also a Corporate Authorised Representative of Countrywide Tolstrup Financial Services Group Pty Ltd. ABN 51 586 953 292 AFSL 244436 for the provision of general insurance products. Please refer to our FSG - General Insurance. We hope that the information and general advice we can provide will help you make a more informed decision. We are not owned by any Bank or Insurer and we are not a product issuer or a credit provider. Although we cover a wide range of products, providers and services we don't cover every product, provider or service available in the market so there may be other options available to you. We also don't recommend specific products, services or providers. If you decide to apply for a product or service through our website you will be dealing directly with the provider of that product or service and not with us. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. If you are unsure you should get independent advice before you apply for any product or commit to any plan. (c) 2018.

Thank you for your feedback.

Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.

Important information about this website

finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of major banks, insurers and product issuers.

finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product. You should consider whether the products featured on our site are appropriate for your needs and seek independent advice if you have any questions.

Products marked as 'Promoted' or "Advertisement" are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options and find the best option for you.

The identification of a group of products, as 'Top' or 'Best' is a reflection of user preferences based on current website data. On a regular basis, analytics drive the creation of a list of popular products. Where these products are grouped, they appear in no particular order.

Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment.

We try to take an open and transparent approach and provide a broad based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.

Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.

Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.

Please read our website terms of use for more information about our services and our approach to privacy.